John Donofrio, Executive Vice President and General Counsel at Johnson Controls (NYSE:JCI) International plc (NYSE:JCI), recently executed a series of stock transactions, as detailed in a recent SEC filing. On November 7 and 8, Donofrio sold a total of 111,921 shares, generating approximately $9.2 million. The sales occurred at prices ranging from $82.04 to $84.17 per share.
In addition to the sales, Donofrio exercised options to acquire 110,921 shares at prices between $33.39 and $37.36, totaling approximately $3.99 million. Following these transactions, Donofrio now holds 39,099.361 shares directly.
In other recent news, Johnson Controls, a global leader in smart, healthy, and sustainable buildings, showcased its strong financial performance in the fourth quarter of fiscal 2024. The company reported a 7% increase in orders and a significant 22% year-over-year rise in adjusted earnings per share (EPS) to $1.28. Looking ahead, Johnson Controls anticipates continued growth in fiscal 2025, projecting an adjusted EPS of $3.40 to $3.50 and mid-single-digit organic sales growth.
In addition to these developments, the company plans to divest its Residential & Light Commercial segment to Bosch (NS:BOSH) in the fourth quarter of 2024. This move is part of a broader $400 million restructuring plan aimed at achieving $500 million in annual cost savings. The company also reported a record backlog of $13.1 billion, indicating robust future revenue potential.
Furthermore, the company expects to see an adjusted segment EBITA margin expansion of over 100 basis points to approximately 14.5% in the first quarter. However, there may be some pressure on the North America Building Solutions margins due to ongoing large projects, and free cash flow conversion may be affected by tax rate discrepancies in fiscal 2025. Despite these challenges, Johnson Controls remains optimistic about its growth prospects and its ability to deliver shareholder value in the coming fiscal year.
InvestingPro Insights
Johnson Controls International plc (NYSE:JCI) has been experiencing significant market momentum, as evidenced by its recent stock performance and financial metrics. According to InvestingPro data, JCI's stock has shown impressive returns, with a 71.05% price total return over the past year and a 49.19% return year-to-date. This strong performance aligns with the recent insider transactions by Executive Vice President John Donofrio.
The company's market capitalization stands at $56.47 billion, reflecting its substantial presence in the Building Products industry. JCI's P/E ratio of 33.32 suggests that investors are willing to pay a premium for the company's earnings, which could be attributed to its growth prospects or market position.
InvestingPro Tips highlight that JCI has maintained dividend payments for 54 consecutive years, demonstrating a commitment to shareholder returns. This long-standing dividend history may be particularly attractive to income-focused investors. Additionally, the company is trading near its 52-week high, with its current price at 99.8% of the 52-week high, indicating strong investor confidence.
It's worth noting that while JCI's revenue for the last twelve months was $22.95 billion, it experienced a revenue decline of 14.34% during the same period. Despite this, the company maintains a healthy gross profit margin of 35.19% and an operating income margin of 10.53%, suggesting efficient cost management.
For investors considering JCI, InvestingPro offers 15 additional tips that provide a more comprehensive analysis of the company's financial health and market position. These insights could be valuable for understanding the full picture behind the recent insider transactions and the company's overall performance.
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